VanEck executive "Bitcoin expected to reach half of gold's value after the next halving…$644,000"
Suehyeon Lee
Summary
- Matthew Sigel, head of digital asset research at VanEck, predicted that Bitcoin's market capitalization will reach half of gold's after the next halving.
- Sigel said Bitcoin is growing by replacing gold's role as a store of value.
- He said Bitcoin could rise to about $644,000 after the next halving.
Matthew Sigel, head of digital asset research at VanEck, forecast that Bitcoin (BTC)'s market capitalization will reach half of gold's level after the next halving.
On the 7th (local time), Sigel said on X, "The value of Bitcoin is growing by replacing gold's role as a store of value (store of value), not for industrial demand or jewelry use," and added, "After the next halving, Bitcoin will reach half of gold's value."
He went on to say, "In particular, young consumers in emerging markets are increasingly preferring Bitcoin over gold as a means of preserving assets. Based on the peak price of gold, after the next halving Bitcoin would rise to about $644,000."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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